Welcome!

News Feed Item

Led by Bangalore and Hyderabad, the MagicBricks' 11 City PropIndex Rises 2%

NEW DELHI, December 6, 2012 /PRNewswire/ --

The Sixth Edition of MagicBricks.com's PropIndex, the First Index of its Kind That Tracks Demand and Supply of Properties Across 11 Major Cities of India, hit the Stands

Despite weak buyer sentiments, the National Property Index (NPI) went up by over 2 percent in the Jul-Sept' 2012 quarter as compared to Apr-Jun' 2012 quarter. Of the 11 cities in the apartment Index, 9 cities showed a rise in the property index values - led by the southern metros of Bangalore and Hyderabad.

Based on dynamic data mined from MagicBricks.com, PropIndex focuses on the National Property Index (NPI), a weighted average of city indices. The data from India's No.1 property portal is refined with intricate algorithms to arrive at Index Values at locality, city and national levels across India.

The composite index values of each of the 11 cities are drawn from the changing indices of different localities. Localities that are more active compared to others contribute more significantly to the index values of that city. This index is reflective of trends across multi-storey and single floor apartments (commonly known as builder floors).

This quarter, Delhi, Gurgaon, Noida-Ghaziabad, Pune, Ahmedabad, Kolkata, Hyderabad and Bangalore - all saw a rise in their indices while Mumbai and Chennai registered stable values.

Bangalore topped the city index chart by registering an average of 7 percent increase followed by Hyderabad, Gurgaon and Pune with 5, and 3 percent rise, respectively. The city witnessed a change of about 7-9 % in capital values in some top localities.

Ahmedabad, Delhi, Kolkata, Noida and Ghaziabad saw a rise of 1-3 percent in the city index values. Bangalore, Hyderabad, Pune and Gurgaon were the major contributors to the NPI within the Jul-Sept quarter.

Some of the other Significant Findings of PropIndex include:

1. Areas that witnessed good road infrastructure, metro-rail connectivity and better facilities saw a rise in values.

2. Affordable localities saw increased buyer demand as compared to premium localities in cities such as Pune, Bangalore, and Mumbai.

3. Increased values were registered across IT-driven localities in cities such as Bangalore, Pune, Kolkata and Chennai for both outright purchase and lease.

4. Similar to the last quarter, growing preferences for smaller sized residential units (1 and 2 BHK) were recorded in almost all the cities.

5. Multi-storey apartments remained the most sought-after property type across all cities. Demand for larger unit-size properties was mainly witnessed in premium localities. The supply of these units continued to outstrip the demand in this category in almost all the cities. 

A sample of User Endorsements from actual subscribers -

"The Real Estate market is on an upward curve at present. The PropIndex by MagicBricks.com is a good index for gauging the market and taking decisions. It is indeed very helpful, not only for developers, but also for buyers, professionals in the financial sector and market analysts." - A Balakrishna Hegde, Managing Director, Chartered Housing Pvt. Ltd.

"PropIndex is a great step in knowledge initiatives, bringing out well-studied reports by MagicBricks.com. It is, indeed, a commendable job. I take this opportunity to wish PropIndex all the success." - Muninder Seeru, Director, G: Corp Developers Pvt. Ltd.

"The PropIndex, covering top yield grossers and capital gains in residential properties, in 11 leading cities for 260 locations, gives valuable insights into the moving property values scenario. The scientific methodology adopted, based on meticulous research on dynamic property movement trends, provides a good benchmark index for discerning property buyers and real estate watchers." - V Suresh, Principal Executive Officer, HIRCO

"PropIndex is a perfect tool for potential investors/buyers in understanding the price movement of the properties in a respective city vis-à-vis other cities, thereby deciding their investment choices. The research based on 400,000 postings by 100,000 active users will be but a close-to-reality index. In this perspective, MagicBricks.com's PropIndex is certainly a boon for the real estate industry." - R. Murugesan, CEO, Shriram Properties

"The PropIndex is insightful and provides in-depth analysis in a consolidated manner. The information is quite useful as it assists multiple stakeholders in analysing data and arriving at the most relevant strategy or solution." - Avinash Rao, Regional Director - South, Knight Frank India Pvt. Ltd.

About the MagicBricks.com PropIndex:

"PropIndex" is an apartment index that tracks the property market performance of 11 cities across the country. Based on a bedrock of immense data, this Index, pioneered by India's biggest property portal, MagicBricks.com, will offer a rounded perspective of trends in prices, rentals and supply of apartments in all these markets.

The PropIndex and detailed report processed from the largest base of "live" data from:

  • Over 400,000 active properties;
  • 3 Million+ active property requirements;
  • close to 4 million visits per month; 
  • approx. 35 million page views per month; and
  • approx. 60 thousand property responses (enquiries) per day.

The PropIndex also features:

-  "Smart" algorithm and statistical tools to handle large data volumes.

-  Expert comments from top builders and brokers.

-  Original content sourced from in-house research and from multiple "advice" platforms available on MagicBricks.com

Each city report covers the important metrics of -

National Property Index (NPI): A weighted average of 11 different city indices (CPI)

City Property Index (CPI): This has been derived as a function of supply of properties weighted against the average capital value appreciation/drop in various localities of the city.

Price Monitor: Reflects the capital appreciation/drop within various localities of a city.

Rent Monitor: Reflects the rental appreciation/drop within various localities of a city.

Yield Meter: This is the annual rate of return earned on a property.

Capital Value Tables: Indicates the capital prices for property prevailing in various localities of a city

Please visit http://property.magicbricks.com/microsite/buy/prop-index-new/index.html to download more city-specific details.

Primary Media Contact: Aseem Seth, TBSL, [email protected], 91-9910273367

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
While the focus and objectives of IoT initiatives are many and diverse, they all share a few common attributes, and one of those is the network. Commonly, that network includes the Internet, over which there isn't any real control for performance and availability. Or is there? The current state of the art for Big Data analytics, as applied to network telemetry, offers new opportunities for improving and assuring operational integrity. In his session at @ThingsExpo, Jim Frey, Vice President of S...
DX World EXPO, LLC., a Lighthouse Point, Florida-based startup trade show producer and the creator of "DXWorldEXPO® - Digital Transformation Conference & Expo" has announced its executive management team. The team is headed by Levent Selamoglu, who has been named CEO. "Now is the time for a truly global DX event, to bring together the leading minds from the technology world in a conversation about Digital Transformation," he said in making the announcement.
"We focus on SAP workloads because they are among the most powerful but somewhat challenging workloads out there to take into public cloud," explained Swen Conrad, CEO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"As we've gone out into the public cloud we've seen that over time we may have lost a few things - we've lost control, we've given up cost to a certain extent, and then security, flexibility," explained Steve Conner, VP of Sales at Cloudistics,in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are focused on SAP running in the clouds, to make this super easy because we believe in the tremendous value of those powerful worlds - SAP and the cloud," explained Frank Stienhans, CTO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DX encompasses the continuing technology revolution, and is addressing society's most important issues throughout the entire $78 trillion 21st-century global economy," said Roger Strukhoff, Conference Chair. "DX World Expo has organized these issues along 10 tracks with more than 150 of the world's top speakers coming to Istanbul to help change the world."
"Peak 10 is a hybrid infrastructure provider across the nation. We are in the thick of things when it comes to hybrid IT," explained , Chief Technology Officer at Peak 10, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I will be talking about ChatOps and ChatOps as a way to solve some problems in the DevOps space," explained Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, will examine the regulations and provide insight on how it affects technology, challenges the established rules and will usher in new levels of diligence...
SYS-CON Events announced today that SkyScale will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SkyScale is a world-class provider of cloud-based, ultra-fast multi-GPU hardware platforms for lease to customers desiring the fastest performance available as a service anywhere in the world. SkyScale builds, configures, and manages dedicated systems strategically located in maximum-securit...